Mannatech
March 19, 2021
Mannatech reported 2020 net sales of 151.4 million dollars, down 4.0 percent from 157.7 million dollars. On a constant-dollar basis, sales fell 2.7 percent, with currency taking another 2.1 million dollars off the total. Net income rose to 6.3 million dollars, or 2.77 dollars a diluted share, from 3.3 million dollars, or 1.35 dollars, in 2019.
Fourth-quarter net sales were 39.2 million dollars, down 0.5 percent, or 2.5 percent in constant dollars. Quarterly net income was 0.7 million dollars, or 0.34 dollars a share, compared with 2.1 million dollars, or 0.87 dollars, a year earlier. Gross margin in the quarter fell to 73.3 percent from 78.9 percent. Selling and administrative costs rose 1.3 million dollars, including higher marketing and payroll, while travel and event costs fell.
Associate and preferred-customer positions tied to purchases were about 183,000 at year end, compared with 169,000 a year earlier. Fourth-quarter recruiting rose 6.6 percent. The company said operations generated 6.0 million dollars of cash, it paid 3.4 million dollars in dividends, and it repurchased 5.9 million dollars of stock. Cash ended at 22.2 million dollars. A tax benefit of 0.5 million dollars reflected a carryback of U.S. losses allowed under the CARES Act.